Every American deserves a chance to get affordable housing

Families with low incomes can have most hardship; bond initiatives could help finance homeownership

By Julián Castro, For the Express-News

September 25, 2015

Fifteen years ago, as I prepared to return to San Antonio after my final year in law school, I regularly bragged to my classmates — many of them bound for New York, San Francisco or Washington, D.C. — about our city’s great quality of life, growing economy and friendly people. “Consider San Antonio,” I’d tell them. And if that wasn’t convincing enough, I’d casually mention to these folks, accustomed to paying Northeast rents, that I would soon purchase a spacious, four-bedroom San Antonio home for $115,000.

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Today, our city is more vibrant and dynamic than ever. We’ve catalyzed community development by attracting public- and private-sector investment. We’ve improved the health of our residents. And we’ve expanded educational opportunities for students of all ages — from children entering pre-K to high school seniors applying for college.

But as we look toward the future, we must ensure that every person has the same access to opportunity. Within the past 15 years, our local housing market has undergone a fundamental transformation. In early 2015, the median listing price on Zillow for a four-bedroom house in San Antonio was about $254,000.

The numbers are clear: San Antonio faces an affordable housing challenge. And too often, it’s our most vulnerable families that endure the greatest hardship. The Urban Institute estimates that within Bexar County, there are only 29 units of affordable housing for every 100 extremely low-income households. (An extremely low-income household is defined as a family of four that earns no more than $18,400.)

And San Antonio’s situation is not unique. Across the nation, families are having a hard time putting a roof over their heads, much less putting away money for the future. Last year, a Harvard University study concluded that the U.S. housing market is experiencing a crisis of affordability. And a recent study from the Department of Housing and Urban Development (HUD) found that nearly 8 million low-income households spend more than half their incomes on rent, live in substandard housing or both.

Americans could be devoting more of their hard-earned dollars toward their children’s educations, saving for retirement or shopping at local businesses. Instead, they’re spending too much on their monthly rent or mortgage payments.

Fortunately, there’s also good news to report, as many local governments have introduced innovative strategies to increase the local supply of affordable housing.

For example, in 2013, the city of Austin passed an Affordable Housing Bond Program to finance affordable homeownership and rental developments. To his credit, Bexar County Commissioner Tommy Calvert Jr. is exploring a similar initiative in our community, and I encourage other local lawmakers to adopt such a policy.

Affordable housing bonds are just one option that we should pursue. Considering the growing success of the Decade of Downtown, the city of San Antonio should strengthen its requirement for developers to include affordable units in new construction projects. We can also advance efforts that promote affordable housing in every San Antonio neighborhood.

I know firsthand the importance of having a stable place to put down one’s roots. The home I purchased in the Sunshine Estates neighborhood became the foundation for my life in San Antonio. It provided Erica and me with a secure place to start our family, and an investment in our future.

As HUD secretary, I’m committed to empowering leaders throughout the nation to give every American the same chance to find a safe, affordable and dignified place to call home. I look forward to watching San Antonio’s progress as it continues to be one of the most vibrant, livable cities in the United States — and one that is affordable to hardworking families across the economic spectrum.